Gold Analysis 09/08/2023:

Gold yesterday repeatedly tested the 1935 area but could not break upwards and was overwhelmingly attacked by the bears, pushing Gold down deeply to around 1925 => D1 closed the bearish Engulfing candlestick to break the 1930 Demand Zone. However, this is only a break at the D1 timeframe, it is necessary to confirm the W1 candlestick to be able to confirm for sure.

Given what the market is showing, today’s short-term trend will be bearish. In the Asian session, the European market will retest the 1930 area, then there will be a reversal signal to push Gold down to 1920 (Maybe early or middle US).

At the end of the day, it is possible that Gold will bounce back because 1920 is the resistance zone of D1 that confluences with W1.

Command reference:

Sell 1929

SL 1936

TP1: 1924

TP2: 1921

Buy 1920- 1921

SL 1912

TP 1929


Bài viết mới nhất


Bài viết liên quan